Dogecoin (CRYPTO:DOGE) continues to trade higher in 2021. The “meme currency” has trended on Twitter (NYSE:TWTR) throughout 2021 with #dogecoin and #dogetothemoon among trending topics.
Traders have also pushed for Dogecoin to go to $1.
Dogecoin does not have a limited supply like other cryptocurrencies like Bitcoin. The cryptocurrency has limited use but that hasn’t stopped traders from taking a small position in the meme currency. The Dallas Mavericks even began accepting Dogecoin as a payment option at games in 2021.
Musk has tweeted about Dogecoin several times, pumping the cryptocurrency’s price to new all-time highs. On March 12, Musk encouraged Coinbase to add Dogecoin to its platform, and on April 1 Musk tweeted that he will be sending “a literal Dogecoin to the literal moon.” Although this is likely just an April Fool’s joke, Dogecoin still rose about 32% following Musk’s tweets.
Related Link: How To Pronounce Dogecoin
Investing In 2021: If you were fortunate to throw a little money into Dogecoin at the beginning of 2021, the cryptocurrency could be one of the best performing assets in your portfolio.
Dogecoin opened for trading on Jan. 1 at $0.00468. If you had invested $1,000 in Dogecoin at the highest price on Jan. 1, you would have bought 175,901 Dogecoin.
Based on a price of $0.187 on Thursday, that same $1,000 investment would now be worth $32,983. Not a bad return for investing or buying a meme currency.
Performance: Dogecoin is up 45% to $0.187 at publication time. The cryptocurrency has a market cap of more than $22.7 billion, according to AssetDash.com.
Dogecoin ranks number 541 on the site’s list of stocks and cryptocurrencies by market capitalization. Bitcoin has a market capitalization of $1.2 trillion. Ethereum has a market capitalization of $289 billion.
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